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Build Credit and Earn Rewards: The Deserve EDU Mastercard for Students

Deserve EDU Mastercard: A Great Credit Card Option for U.S. College and International Students

Are you a student looking for a credit card that can help you build credit, earn cashback, and provide valuable benefits? Look no further than the Deserve EDU Mastercard.

Card Eligibility and Unique Features

The Deserve EDU Mastercard is designed for U.S. college students and international students with a valid Social Security number. Unlike traditional credit cards that require a credit history, the Deserve EDU Mastercard considers other factors such as your education, financial behavior, and future prospects to determine eligibility.

One of the unique benefits of the Deserve EDU Mastercard is the cashback rewards program. Cardholders earn 1% cashback on all purchases with no limits or expiration dates.

This is a great way to earn some extra money while building your credit history. In addition to the cashback rewards program, the Deserve EDU Mastercard offers a range of benefits, including:

– Cell phone protection: If you pay your monthly cell phone bill with the Deserve EDU Mastercard, you’ll be covered for up to $600 if your phone is stolen or damaged.

– Collision damage waiver: When you rent a car with the Deserve EDU Mastercard, you’ll be covered for damage due to collision or theft. – Mastercard Platinum benefits: This includes things like 24/7 travel and emergency assistance, ID theft protection, and extended warranty protection.

– No foreign transaction fees: If you’re an international student, this is a huge benefit. You won’t be charged any additional fees when making purchases outside of the United States.

While the Deserve EDU Mastercard offers plenty of benefits, there are a few drawbacks to consider as well. For example, if you have an established credit history, you may be able to find other credit cards with better rewards programs.

Additionally, the Deserve EDU Mastercard charges a foreign transaction fee of 3%, which can add up if you frequently make purchases outside of the United States. Finally, balance transfers are not allowed with this card.

Who Should Get the Deserve EDU Mastercard? U.S. college students and international students without an established credit history are the ideal audience for the Deserve EDU Mastercard.

This card offers an opportunity to build credit, earn cashback, and enjoy valuable benefits without having to overcome the hurdle of a lack of credit history. For U.S. college students, the Deserve EDU Mastercard offers a low annual cost (just $0) and a chance to start building credit before graduation.

By using the card responsibly and paying your bills on time, you’ll establish a credit history that can be beneficial in the long run. If you’re an international student, the Deserve EDU Mastercard is a great choice because it waives foreign transaction fees.

This means you can use your card to make purchases both in the United States and abroad without worrying about additional fees. Additionally, the cell phone protection benefit can be especially useful for international students who are trying to stay connected with loved ones back home.

Overall, the Deserve EDU Mastercard is a great credit card option for students looking to build credit and earn rewards. With its unique eligibility criteria and valuable benefits, it’s an excellent choice for those who may not have an established credit history but are interested in building one for the future.

Card Basics: The Features and Requirements of the Deserve EDU Mastercard

The Deserve EDU Mastercard is designed for U.S. college and international students who are looking for a credit card that can help them build credit and earn rewards. Let’s take a closer look at the features and requirements of this card.

Cashback Rewards and Statement Credits

One of the main features of the Deserve EDU Mastercard is the cashback rewards program. With this program, cardholders earn 1% cashback on all purchases made with the card.

The cashback is automatically applied to the account as a statement credit, which can help reduce the balance owed. In addition to the cashback rewards program, the Deserve EDU Mastercard also offers statement credits.

For example, if you sign up for Amazon Prime Student using your Deserve EDU Mastercard, you can receive a $100 statement credit. This can be a great way to save money on everyday expenses.

Annual Fee and Limited Credit History Consideration

The Deserve EDU Mastercard has no annual fee, which makes it an attractive option for students on a budget. However, it’s important to note that there may be other fees associated with the card, such as a late payment fee or a returned payment fee.

One of the unique features of the Deserve EDU Mastercard is that it considers factors beyond credit history when determining eligibility. This makes it a great option for students who may not have an established credit history.

The card also does not require a Social Security number, which can be helpful for international students.

Benefits for International Students

For international students, the Deserve EDU Mastercard offers a number of benefits that make it a great choice. For example, the card does not require a Social Security number, which can be difficult for international students to obtain.

Additionally, the Deserve EDU Mastercard takes into account limited credit history when determining eligibility, which can be helpful for international students who may not have had the opportunity to establish credit in the United States. Deserve EDU Mastercard Benefits and Perks: What You Need to Know

The Deserve EDU Mastercard offers a range of benefits and perks that can make it an attractive choice for students.

Let’s take a closer look at what this card has to offer.

Sign-Up Bonus and Cashback Rewards

One of the most attractive benefits of the Deserve EDU Mastercard is the sign-up bonus. If you sign up for Amazon Prime Student using your card, you can receive a $100 statement credit.

This is a great way to save money on one of the most popular student services out there. Additionally, the Deserve EDU Mastercard offers 1% cashback on all purchases made with the card.

This cashback is automatically applied as a statement credit, which can help students reduce their balance owed.

Additional Benefits and Protections

The Deserve EDU Mastercard also offers a range of additional benefits and protections. For example, if you pay your cell phone bill with the card, you’ll be covered for up to $600 if your phone is stolen or damaged.

This is a great way to protect your investment and avoid costly replacement fees. When you rent a car with the Deserve EDU Mastercard, you’ll also be covered for damage due to collision or theft.

This collision damage waiver can save you money on expensive rental car insurance. Finally, the Deserve EDU Mastercard offers Mastercard Platinum benefits, including 24/7 travel and emergency assistance, ID theft protection, and extended warranty protection.

Plus, for international students, the card offers no foreign transaction fees, which can save you a lot of money on purchases made outside of the United States. In conclusion, the Deserve EDU Mastercard is an excellent choice for students looking to build credit and earn rewards.

With its unique eligibility criteria, cashback rewards program, and valuable benefits and protections, it’s worth considering for any student in need of a credit card. Drawbacks to the Deserve EDU Mastercard: What to Consider

While the Deserve EDU Mastercard offers a range of benefits and perks, it’s important to consider some of the potential drawbacks before applying for the card.

Let’s take a closer look at some of the limitations and considerations associated with the card.

Limitations of Card Benefits and Redemption Options

While the Deserve EDU Mastercard offers a cashback rewards program, the earning potential is relatively low compared to other credit cards. With a 1% cashback rate on all purchases, you won’t be earning big rewards quickly.

Additionally, the redemption options for these rewards are also limited, with only statement credits as an option for accessing your rewards.

Considerations for Card Usage and APR

The Deserve EDU Mastercard has a variable APR that can range from 18.74% to 25.74%. This is a relatively high interest rate, which means that if you carry a balance on the card, you could end up paying a significant amount in interest over time.

It’s important to use the card responsibly and pay off your balance in full each month to avoid accruing interest charges. Another consideration for card usage is that the Deserve EDU Mastercard does not allow cash advances or balance transfers.

This can be limiting if you’re looking to use your credit card for a cash advance or to transfer a balance from another credit card.

Earning and Redeeming Cashback Rewards with the Deserve EDU Mastercard

Now that we’ve discussed some of the potential drawbacks of the Deserve EDU Mastercard, let’s take a closer look at how you can earn and redeem cashback rewards with this card.

Ways to Earn Cashback Rewards

The Deserve EDU Mastercard offers a 1% cashback rate on all purchases made with the card. Additionally, there are opportunities to earn bonus cash back through the Amazon Prime Student offer.

By signing up for Amazon Prime Student using your Deserve EDU Mastercard, you can receive a $100 statement credit, which can go a long way towards offsetting the cost of the service.

Options for Redeeming Rewards

When it comes to redeeming your cashback rewards with the Deserve EDU Mastercard, your only option is statement credits. This means that you can’t use your rewards to make purchases, get gift cards, or access other types of rewards.

However, the statement credits are automatically applied to your account, which makes it easy to access your rewards without having to engage in a separate redemption process. In conclusion, while there are limitations and considerations associated with the Deserve EDU Mastercard, there are also opportunities to earn cashback rewards and access valuable benefits and protections.

By using the card responsibly, you can build your credit history and earn some valuable rewards along the way. Deserve EDU Mastercard FAQs: What You Need to Know

As you consider applying for the Deserve EDU Mastercard, you may have some questions about the card and how it works.

Let’s take a look at some common questions and answers to help you make an informed decision. Q: What credit score do I need to qualify for the Deserve EDU Mastercard?

A: The Deserve EDU Mastercard considers factors beyond credit history when determining eligibility. While there is no specific credit score requirement, it’s important to have responsible financial behavior and a solid education and future prospects to increase your chances of being approved.

Q: What is the credit limit for the Deserve EDU Mastercard? A: The credit limit for the Deserve EDU Mastercard is determined based on factors such as income and creditworthiness.

It’s best to apply for the card and see what limit you’re approved for. Q: Will the Deserve EDU Mastercard help me build my credit?

A: Yes, using the Deserve EDU Mastercard responsibly by making on-time payments and keeping your balance low can help you build your credit history over time. Q: Does the Deserve EDU Mastercard report to the major credit bureaus?

A: Yes, the Deserve EDU Mastercard reports to the three major credit bureaus (Equifax, Experian, and TransUnion), which can help you establish credit and improve your credit score over time. Q: Are there other credit cards I should consider before applying for the Deserve EDU Mastercard?

A: While the Deserve EDU Mastercard offers a range of benefits and perks, there are other credit cards designed specifically for students that may offer higher earning potential and more flexible reward redemption options. Other Cards to Consider: Alternative Credit Cards for Students

If you’re considering the Deserve EDU Mastercard but want to explore other options, there are several other credit cards that may be a good fit for students.

Here are a few to consider:

Chase Freedom Student credit card: This card offers 1% cashback on all purchases, with the opportunity to earn an additional 4% on certain categories. There is no annual fee, and the card allows for flexible reward redemption options.

Capital One SavorOne Cash Rewards Credit Card: While this card is not designed specifically for students, it offers a range of rewards and benefits that can be highly attractive. With 3% cashback on dining and entertainment, this card is a great option for those who like to go out and have fun.

Plus, there is no annual fee. Ultimately, the best credit card for you will depend on your personal financial situation, spending habits, and reward preferences.

It’s important to do your research and compare options before making a decision. In conclusion, the Deserve EDU Mastercard is a credit card that is designed for U.S. college and international students, offering an opportunity to build credit, earn cashback, and enjoy valuable benefits.

While the card comes with some limitations and considerations, it remains a great credit card option for students looking to build credit and earn rewards. Additionally, students can consider alternative credit cards such as the Chase Freedom Student credit card or the Capital One SavorOne Cash Rewards Credit Card.

With responsible use and careful consideration of all available options, students can find the credit card that best meets their needs.

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